Accounting/tracking for consignment sales

Cory Brown's Profile

I am working with a retailer who is instituting a consignment program to sell their customers used gear.  Has anyone had experience setting this up in Quickbooks?  They intend to start it manually (with paper files), but it seems like something that could be done in the system, though I know the accounting implications are an issue. Any help is appreciated.  Thank you.

Cory Brown

Answers

Member's Profile

Take a look at the advanced inventory module in QB Enterprise Version 12. It allows for multiple locations which can be the inventory location for the consigned inventory until the sale is complete. It may provide the solution with a properly documented workflow for the transactions through to the GL and financial statements.

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